Tips for Paying for Your MBA Degree

If you are interested pursuing an MBA degree, paying for your MBA degree should be on the top of your list of things to consider. Like any investment, a graduate business degree comes with a large price tag. And although the career benefits far outweigh the costs, paying for your MBA degree can be a challenge.

For many years, MBA students have relied on employee tuition reimbursement programs to fully or

declining employer support graph

Source: GMAC

partially fund their MBA degrees.  According to a recent Graduate Management Admission Council (GMAC) Alumni Perspectives Survey, employer support has declined in the past twenty years (see graph). This has made prospective students begin to look at other options including financial aid for MBA programs.

Financial Aid for MBA Programs

Financial assistance can come in many forms including scholarships, assistantships, grants, loans, or payment plans.

MBA Scholarships

Most universities offer MBA scholarships for full-time students but few offer part-time MBA students scholarships. The George Mason MBA Program awards merit-based MBA scholarships to highly-qualified part-time MBA students who demonstrate intellectual promise in the business filed through past academic performance, GMAT test scores, and previous experience.

MBA Graduate Assistantships

Graduate assistantships for both teaching and research positions can provide a partial or full tuition waiver for students, helping you cover your expenses and providing educational and research opportunities. Learn more about Mason’s MBA graduate assistantships.

Payment Plans

Some universities offer students a payment plan option for those who need to budget their tuition. George Mason’s Students Accounts Office can help students arrange a payment plan.

Financial Aid for MBA

Federally funded programs can also assist qualified applicants who have financial eligibility to help meet their education and living costs.  You can learn more about which programs you qualify for by visiting Mason’s Office of Student Financial Aid.

Located in the metro Washington, D.C. area, George Mason’s MBA Program, prepares the next generation of business leaders through a rigorous, stimulating business and management curriculum based on a global perspective, industry demand, and leadership preparing graduates with the skills they need to pursue the career they want. Mason’s MBA program is ranked #74 on the “Best Part-time MBA” list by U. S. News & World Report.

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Kevin Rockmann

I am the associate dean of students at George Mason University's School of Business. My primary teaching assignments are organizational behavior and negotiation in the MBA program. Using theory on identity, decision-making, and social exchange, my research investigates the development and the influence of various types of attachments in organizations, whether they be at the individual, team, professional, or organizational level. My research has appeared in Academy of Management Journal, Academy of Management Review, Organizational Behavior and Human Decision Processes, Small Group Research, and the Research in Managing Groups and Teams book series.

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